SolarEdge Technologies (SEDG) Reports Q3 Loss, Misses Revenue Estimates

Company Performance - SolarEdge Technologies reported a quarterly loss of $15.33 per share, significantly worse than the Zacks Consensus Estimate of a loss of $1.55, and compared to a loss of $0.55 per share a year ago, indicating a substantial decline in performance [1] - The company posted revenues of $260.9 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 3.13%, and a sharp decline from year-ago revenues of $725.31 million [2] - Over the last four quarters, SolarEdge has surpassed consensus EPS estimates only once and has topped consensus revenue estimates two times [2] Stock Performance - SolarEdge shares have declined approximately 79.8% since the beginning of the year, contrasting with the S&P 500's gain of 21.2% [3] - The current consensus EPS estimate for the upcoming quarter is -$1.34 on revenues of $299.54 million, and for the current fiscal year, it is -$6.47 on revenues of $1.04 billion [7] Industry Outlook - SolarEdge is currently positioned in the bottom 29% of the Zacks Industry Rank, which suggests that the outlook for the industry can significantly impact the stock's performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]